Following an IASB amendment regarding IFRS 4 Insurance Contracts and IAS 39 Financial Instruments, Receivables Insurance contracts can be accounted for under the Standard for Insurance Contracts (IFRS 4).This will be reviewed in phase 2 of the IASB project.

Receivables Insurance Association of Canada for trade credit and political
risk

The Receivables Insurance Association of Canada (RIAC) promotes the business opportunity for receivables insurance – also known as trade credit insurance – to Canadian insurance brokers, the banking industry and businesses engaged in domestic trade and exporting that is subject to trade and/or political risk.

RIAC also works to advance industry innovation and product integrity, solve any business problems related to government legislation, and represent the interests of its members by facilitating an open exchange of information and ideas.